First United Co. (NASDAQ:FUNC) Director Sells $55,040.00 in Stock

First United Co. (NASDAQ:FUNC) Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $27.52, for a total value of $55,040.00. Following the transaction, the director now owns 37,000 shares of the company’s stock, valued at approximately $1,018,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First United Stock Performance

Shares of First United stock traded up $0.08 during mid-day trading on Friday, hitting $27.76. 37,605 shares of the stock were exchanged, compared to its average volume of 24,976. First United Co. has a 12 month low of $15.68 and a 12 month high of $27.99. The company has a 50-day simple moving average of $21.18 and a 200 day simple moving average of $21.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $184.60 million, a P/E ratio of 12.99 and a beta of 0.79.

First United (NASDAQ:FUNC) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $27.95 million for the quarter, compared to analysts’ expectations of $19.34 million. First United had a net margin of 13.84% and a return on equity of 11.85%. Sell-side analysts anticipate that First United Co. will post 2.75 earnings per share for the current fiscal year.

First United Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Thursday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. First United’s dividend payout ratio (DPR) is presently 37.21%.

Institutional Investors Weigh In On First United

Hedge funds have recently modified their holdings of the stock. AJOVista LLC bought a new stake in shares of First United in the 4th quarter worth approximately $49,000. Hillsdale Investment Management Inc. bought a new stake in First United during the 1st quarter valued at $111,000. Price T Rowe Associates Inc. MD bought a new stake in First United during the 1st quarter valued at $209,000. Quadrature Capital Ltd bought a new stake in First United during the 1st quarter valued at $298,000. Finally, Empowered Funds LLC raised its holdings in First United by 8.0% during the 1st quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock valued at $370,000 after acquiring an additional 1,192 shares during the period. Institutional investors own 33.27% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of First United from a “buy” rating to a “hold” rating in a research report on Monday.

About First United

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.